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Memorandum of Understanding between Gafta and Electronic Platforms

The importance of electronic platforms is rising within the trade, and Gafta is dedicated to safeguarding the interests of members as new technology enters the market. It is essential to the industry that both Gafta and any new technologies reflect the needs of their businesses, so we have developed a model for working with electronic platform providers to foster and inform best practice.

This model is encapsulated within our Memorandum of Understanding (MOU), which both Gafta and the platform provider sign as a demonstration of their dedication to improving industry processes through technology. Signatories must be members of Gafta in order to demonstrate their commitment to the commodity trade, as well as ensuring they are bound by our membership rules, providing peace-of-mind for users.

Through the MOU, Gafta and the electronic platforms work together to ensure that functionality and policy develop in a mutually beneficial way, keeping the interests of Gafta members at the heart of operations. Both the provider and Gafta will share non-confidential and non-commercial information with one another that may inform service provision and development, as well as meeting regularly to discuss any changes within the market or international legal frameworks that may affect either party.

For further information, please contact post@gafta.com

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What is the MOU?

An agreement between Gafta and a commodity trade-related electronic platform that promotes knowledge-sharing and best practice.

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Does this mean Gafta recommends the platforms that sign up to the MOU?

No, Gafta does not endorse any individual products

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Is this a legally binding agreement?

No, the MOU is not a contract, it is a statement of best practice to improve the knowledge, understanding and working relations between the signatories.

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Can any platform sign the MOU?

Only Gafta members can sign

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Will electronic contracts be available on platforms?

Not at this time. Gafta retains all rights to their contracts and the only endorsed location for Gafta contracts is via gafta.com

See the list of signatories